The People vs. the IRS

Why dealing with the IRS is so difficult – and the woman charged with making it easier:

[Nina] Olson noted that the IRS relied on computers to audit all but the highest-income brackets. “We’re getting to a situation where the only people who will get face-to-face audits are the 1 Percent,” she said. “For the majority of taxpayers, the IRS has become faceless, nameless, with no accountability and no liability.”

BuzzFeed, the Ad Model for the Facebook Era?

How the website mastered “Social Publishing”:

To understand some of the principles underlying BuzzFeed’s strategy, he recommends reading The Individual in a Social World, a 1977 book by Stanley Milgram, who is known, among other things, for his experiments leading to the six degrees of separation theory. “When some cute kitten video goes viral,” says [Jonah] Peretti, “you know a Stanley Milgram experiment is happening thousands of times a day.”

Gold Coins: The Mystery of the Double Eagle

The hunt for rare 1933 Double Eagle coins:

The U.S. Secret Service, responsible for protecting the nation’s currency, has been pursuing them for nearly 70 years, through 13 Administrations and 12 different directors. The investigation has spanned three continents and involved some of the most famous coin collectors in the world, a confidential informant, a playboy king, and a sting operation at the Waldorf Astoria in Manhattan. It has inspired two novels, two nonfiction books, and a television documentary. And much of it has centered around a coin dealer, dead since 1990, whose shop is still open in South Philadelphia, run by his 82-year-old daughter.

The King of All Vegas Real Estate Scams

Before the market crashed and home prices tumbled, before federal investigators showed up and hauled away the community records, before her property managers pled guilty for conspiring to rig neighborhood elections, and before her real estate lawyer allegedly tried to commit suicide by overdosing on drugs and setting fire to her home, Wanda Murray thought that buying a condominium in Las Vegas was a pretty good idea.

Michael Arrington's Revenge

On the TechCrunch founder’s venture capital fund, and a new breed of startup investor.

As Twitter-loving VC investors have become brand names themselves (Fred Wilson, Marc Andreessen, Chris Sacca), what one might call the auteur theory of venture capitalism has emerged—the idea that startup companies bear the unique creative signature of those who invested in them. To study a venture capitalist’s portfolio is to study his oeuvre.

The Green Bay Packers Have the Best Owners in Football

The Green Bay Packers are a historical, cultural, and geographical anomaly, a publicly traded corporation in a league that doesn’t allow them, an immensely profitable company whose shareholders are forbidden by the corporate bylaws to receive a penny of that profit, a franchise that has flourished despite being in the smallest market in the NFL—with a population of 102,000, it would be small for a Triple A baseball franchise.

The God Clause and the Reinsurance Industry

On the insurer’s insurer and calculating the risk of modern catastrophe:

Reinsurers are ultimately responsible for every new thing that God can come up with. As losses grew this decade, year by year, reinsurers have been working to figure out what they can do to make the God clause smaller, to reduce their exposure. They have billions of dollars at stake. They are very good at thinking about the world to come.

The Rise and Inglorious Fall of Myspace

How what was once one of the most popular websites on Earth—with ambitions to redefine music, dating, and pop culture—became a graveyard of terrible design and failed corporate initiatives:

In retrospect, DeWolfe says, the imperative to monetize the site stunted its evolution: "When we did the Google deal, we basically doubled the ads on our site," making it more cluttered. The size, quality, and placement of ads became another source of tension with News Corp., according to DeWolfe and another executive. "Remember the rotten teeth ad?" DeWolfe says. "And the weight-loss ads that would show a stomach bulging over a pair of pants?"

How Rajat Gupta Came Undone

The downfall of a Goldman Sachs director:

"Now from, for the last three or four, I mean four or five years, I've given him a million bucks a year, right?" says Rajaratnam. "Yeah, yeah," says Gupta, who doesn't appear taken aback at all by Rajaratnam's next remark: "After taxes. Offshore. Cash."